Farmers Bank

[warreng88]

I have worked in banking for going on 20 years now and I am blown away that it ever went that far...

[ManAboutTown]

I lived in a corner apartment at The Edge right across the street from this bank's Oklahoma City office. They partied like rock stars on the 2nd floor over there, often until late into the night. I wasn't surprised when the guy got busted for his transgressions.

[Pete]

The former CEO of Farmers Bank, Aaron Johnson, has been formally charged in federal court with bank fraud.

The details have yet to be filed but the charge sheet says he could face up to 30 years in prison.


You may recall that OKCTalk broke the story about Johnson and Farmers back in 2019 and did several follow-up articles. I spent time in Carnegie talking to people and did a ton of research on all this.

There are also a couple of civil cases against Johnson -- brought by the Farmers investors and now owners who had to infuse millions to prop up the bank -- that are still pending.

The wheels of justice turn slowly!

https://www.okctalk.com/showthread.p...20#post1083320

[Pete]

Press release. Sentencing will come after the Probation Department compiles a Pre Sentencing Report which the judge will consider before announcing punishment. It often takes close to a year for the report to be finalized and a sentencing hearing to take place.

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Oklahoma City Man Pleads Guilty to Committing Bank Fraud
Wednesday, February 5, 2025
For Immediate Release
U.S. Attorney's Office, Western District of Oklahoma

OKLAHOMA CITY – AARON D. JOHNSON, 42, of Oklahoma City, has pleaded guilty to defrauding Farmers Bank, announced U.S. Attorney Robert J. Troester.

On January 3, 2025, Johnson was charged by Information with bank fraud. Between September 2017 and November 6, 2018, Johnson was the President and Chief Executive Officer of Farmers Bank (the Bank), with branches in Carnegie and Oklahoma City, and had access to the Bank’s operating account credit card. According to the Information, between September 2017 and July 30, 2018, Johnson used the Bank’s card to pay his personal expenses, causing an overdraft in the Bank’s operating account of approximately $200,000. On July 30, 2018, Johnson approved a modification to a loan, without approval from the Bank’s board of directors, that renewed the loan in an increased amount. The Information further alleges that Johnson caused a $200,000 advance on the loan, wired the money into an account he controlled, and used the $200,000 to repay the overdraft that he caused.

On February 4, 2025, Johnson pleaded guilty, and admitted he knowingly executed a scheme to obtain money from the Bank by means of false or fraudulent pretenses. At sentencing, Johnson faces up to 30 years in federal prison and a fine of up to $1,000,000.

This case is the result of an investigation by the Federal Deposit Insurance Corporation Office of Inspector General. Assistant U.S. Attorney Julia E. Barry is prosecuting the case.